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Search Results 0 to 38 of about 39 (some duplicates have been removed)
. ben bernanke defends his strategy at the federal reserve to do more to help the economy. >> susie: and how technology is making it possible for doctors to go paperless. >> tom: that and more tonight on "n.b.r."! >> susie: the first day of the new quarter, kicks off with a blue chip rally. investors were encouraged by a report showing that american factories were busy in september. a popular index of national factory activity rose to 51.5 last month, from 49.6 in august. it was the fastest pace of production since may. but that upbeat news was overshadowed by comments from federal reserve chief ben bernanke, saying the economy is not growing fast enough to bring down the unemployment rate. we'll have more on that in a moment. those two events led to volatile trading here on wall street. the dow rose about 78 points, but was up as much as 155 points earlier. the nasdaq drifted in and out of positive and negative territory, finally losing more than 2.5 points, and the s&p rose almost four points. and, as suzanne pratt reports there are conflicting views on the state of american manuf
, right now? our own peter barnes asked fed chief ben bernanke today and he sort of made aoke of the whole thing. >> i know how it happens. it sort of happens over a nice meal at a french restaurant and -- [laughter] there is a discussion of the data and everybody says, what do you think? yeah, okay. melissa: that is his explanation for how the official committee decide whether or not we're in a recession. he didn't really answer the question it turns out. we get one piece of good news like the manufacturing expanding for the first time in four months. we still have a laundry list of bad numbers. unemployment still above 8%. second quarter gdp revised to near stagnant 1.3% growth. durable goodsorders falling 13% in august. the chicago business barometer showing the first contraction in business activity in three years. so what is the truth? why don't we have someone actually willing to answer the question. ihf chief economist. nariman behravesh. thanks for joining us. what do you think of ben bernanke sort of joking about the question? i understand he was trying to lighten up what might be
growth broke a four-month roadblock sparked an upbeat mood on the street. fed chief ben bernanke renewed the central bank's pledge to keep record low interest rates to spur the economy, even after it regains momentum. >>> analysts say winter holiday shopping will rise 4.1% this year. that's slightly lower than predictions for the past two years. >>> jpmorgan chase is the first target of a justice department investigation into the financial crisis. a civil lawsuit alleges bear stearns, bought by jpmorgan in a fire sale, carried out billions of dollars in mortgage-backed securities fraud. >>> american express has agreed to pay $112.5 million to settle federal charges of illegal late fees. >>> the multibillion-dollar fraud carried out by bernard madoff began as far back as the early 1970s. that's according to a rewritten indictment bringing new charges against four longtime madoff employees. >>> a trader joe's peanut butter recall linked to cases of salmonella has now spread to nut butter recalls at multiple national chains including whole foods, target and stop 'n shop. >>> honda is recall
that manufacturing growth broke a four-month roadblock sparked an upbeat mood on the street. fed chief ben bernanke renewed the central bank's pledge to keep record low interest rates to spur the economy even after if regains momentum. >>> analysts say winter holiday shopping will rise 4.1% this year. that's slightly lower than predictions for the past two years. >>> jpmorgan chase is the first target of the justice department investigation into the financial crisis. a civil lawsuit alleges bear stearns, bought by jpmorgan in a fire sale, carried out billions of dollars in mortgage-backed securities fraud. >>> american express has agreed to pay $112.5 million to settle federal charges of illegal late fees. >>> the multi-billion dollar fraud carried out by bernard madoff began as far back as the early 1970s. this is according to a rewritten indictment bringing new charges against four long-time madoff employees. >>> a trader joe's peanut butter recall linked to cases of salmonella has now spread to nut butter recalls at multiple national chains including whole foods, target and stop & shop. >>> hond
, but fed chairman ben bernanke was decidely defending yesterday. he said the fed needs to continue lowering borrowing rates while the economy continues to grow slowly, and that its bond-buying strategy will continue. he insisted that five years of low interest rate policies have not increased inflation. the fed plans to hold the interest rate near zero until at least mid- 2015. bernanke also indicated that there is not another recession on the horizon, but the economy still isn't strong enough to add jobs faster than the current rate. in greece, union workers are preparing for more 24-hour strikes and walk-outs this month. workers are protesting the government's austerity measures. government officials submitted a draft of the 2013 budget yesterday that calls for a new wave of deep cuts which will save $10 billion next year. workers will protest proposed cuts to salaries, pensions and other benefits. last week, 50,000 people in athens demonstrated against austerity. wages in china are going up - by some estimates, about 17% a year. it is providing china's growing middle class with more mon
.s. federal reserve chief says he'll keep pumping money into the economy. chairman ben bernanke says this round of quantitative easing will continue until he sees an improvement in the job situation. >> we would continue securities purchases and employ other policy tools until the outlook for the job market improves substantially in a context of price stability. >> bernanke said the country's economy is improving but not fast enough to reduce unemployment. fed officials decided last month on another round of quantitative easing. it involves purchases of additional mortgage-backed securities at a rate of $40 billion a month. >>> managers at mitsubishi motors's subsidiaries say things are getting back to normal. maruti suzuki's sales are on the rise nearly three months after a riot shut down production at its factory in northern india. the managers say the company sold nearly 94,000 cars in september, up almost 10% from the same month last year. it's also an improvement compared to august when the firm suffered a 40% decline in sales. operators of the company's man sur plant closed the
to a meeting -- they had already made the decision what they were going to do. ben bernanke, i like and respect him. we had a good relationship. i was very disappointed -- we did talk from time to time. th tim, i never felt that was the case. i felt like they were off making decisions and asking me to comment to let me knowh w going on. young women asked me about this. you kind of drive yourself crazy wondering if it is about gender or not. understand that you were going to have to work harder and be better prepared. do not give up, you have the right to be heard and part of the decision making. tavis: there are a number of names floating around in washington right now about who will tm geithner's place. he is not going to stick around. i have seen your name on a number of short list. would you serve? >> i am not looking for -- i am going to dodge that question because i am not looking for a government job. this is a very straightforward but. i would be alienating some people. i decided it was more important to get the facts on the table so people could understand there were different perspecti
round is sponsored by td ameritrade. s m? >>> today ben bernanke our valiant fed chief reaffirmed his pledge to keep the interest rates down. let me give you the basic cramer english translation. ben's once again saying buy dividend stocks, high yields. because if you want income from your investments dividends are going to be the only game in town for years to come. bernanke is promising that the returns from bonds will be puny. same thing with cds. he can make that promise. you need to swap in the dividend stocks. that's why we'll introduce you to prologis. it's a global real estate interest trust. they specialize in distribution space for customers that do business in multiple countries. that's why some of the biggest customers, dhl, amazon, pepsi -- pepsico and fedex. think of prologis as a logistics reit, one that sports a yield, exactly the kind of dividend stock you want in this low interest rate environment. it's rallied since the beginning of the year, but lately it's pulled back three points. it could be giving you a good entry point here. first though, before making any dec
to the show. great to have you here. ben bernanke speaking today -- >> very good to be here. >> thank you. gerri: the federal reserve chairman speaking today and said we are not in a recession. it is not likely we will be in recession. very optimistic. very beat. are you? >> no. i think we are probably losing momentum if we are not in a recession we are close to. the big problem is at the end of the year if we have not done something about the fiscal cliff we are going to be in recession very definitely. the rest of the world is slowing down as well. so certainlthe momentum is not good. whether the growth nber for the fourth quarter is a half a percent or three-quartersof% or zero it will feel pretty much the same. we will be close enough to recession to put some real pressure on the lame-duck congress to do something about that fiscal clef. gerri: motors recent in a poll, 60 percent of them said the u.s. is in a recession. at some pint it ecomes self reinforcing from the people who could take us out of this we don't want to spend because they don't have confidence. >> sure. up until sept
to generate good data and why does this overused cliche matter so much? ben bernanke said he's going to continue to buy bonds to keep interest rates down, so that this purchasing manager's number won't be an aberration. when you examine the fundamental stocks, you are playing what's known as the micro. when you take into account the big data numbers like the purchasing manager's index, you're making a macro analysis. again though like the idea of fighting the fed this micro/macro dichotomy might mean nothing to you unless you took ec 101. let's put it in terms that everybody can understand. anyone who's been to a museum or taken an art class knows that for years artists tried to paint pictures as if they were perfectly -- let's say they tried to capture the exact look. like a kodak camera. okay? that's called realism as the painters are indeed realistic. but as art progressed in the late 19th and early 20th century, you tend to get more -- let's say impressionist, less realist and then expressionists as the artists struggled to get beyond the four walls of the canvas, they took impre
.4%. for three straight quarters, the european economy has been rinking and federal reserve chairman ben bernanke said today amica is feeling the impact. >> it has been a problem for the oblemeconomy. we have seen head winds coming from slowing trade. >> reporter: if you combine rtports and exports, the european union is our biggest trading partner. >> so we have a very strong troerest in europe solving its problems. >> reporter: but the problem won't be solved quickly says ian brehmer who heads the eurasia group, a global research firm. oup,hat brings the europeans back to growth? no one started to address that issue. it's like saying what's going to bring the united states back to e healthy and manageable deficit. ck reporter: and the more imminent threat to the economy may be the so-called fiscal cliff. lledratings agency fitch has genc uncertainty about u.s. fiscal policy is the single- olggest near-term threat to the global recovery. >> winston churchill once said that the americans always do the right thing but only after extinguishing every other possibility. ther is precisely what the ame
reserve chairman ben bernanke defended fed's policies for the first time since launching qe3, saying that fed needs to drive down borrowing costs because the economy is not growing fast enough to reduce high unemployment. surely there is a left in which employment can be created. >> there will belay offs at lockheed-martin in the beginning of the year, but they will not warn the employees of impeding li offs as it is legally retired to today, obama labor department told lockheed they do not need to abide by the law. telling lockheed it will cover potential legal costs if they incur any benpality, obama administration. clearly does not want those layoff notices delivered just days before the election. >> president obama downplaying expectations for wedneay's debate. saying he is an okay debater, according to a new washington post abc news poll, 55 percent of likely voters think that president will win this first debate, and 41% think that romney will win. joining me now, ed klein, author of "new york times" best seller "the amateur." great to see you, this is cute, the downplay, one o
protection bureau. >>> fed chairman ben bernanke today defended policies used to stimulate the economy. he listed other thing that is can be done. >> such as putting the federal budget on a sustainable path. reforming the tax code, improving our educational system supporting technological invasion. and expanding international trade. >> reporter: bernanke also rejected criticism that the federal reserve is laying the ground work for inflation and letting the government run up huge budget deficits. >>> get ktvu news to go now. download the ktvu app, click on the live icon and you can watch all of our newscasts live right there on your mobile device. >>> a bay area man who started an innovative anti poverty program says he is deeply honored to learn he is the winner of a mcarthur genius award. maurice lim miller started the family independence initiative back in 2001. the initiative now has several pilots around the country. miller's initiative brings community members together such as these people in san francisco to share resources and problem solve as they work toward educational, financia
to regulators including the consumer financial protection bureau. >>> fed chairman ben bernanke today defended policies used to stimulate the economy. he listed other thing that is can be done. >> such as putting the federal budget on a sustainable path. reforming the tax code, improving our educational system supporting technological invasion. and expanding international trade. >> reporter: bernanke also rejected criticism that the federal reserve is laying the ground work for inflation and letting the government run up huge budget deficits. >>> get ktvu news to go now. download the ktvu app, click on the live icon and you can watch all of our newscasts live right there on your mobile device. >>> a bay area man who started an innovative anti poverty program says he is deeply honored to learn he is the winner of a mcarthur genius award. maurice lim miller started the family independence initiative back in 2001. the initiative now has several pilots around the country. miller's initiative brings community members together such as these people in san francisco to share resources and problem solv
, it will keep doing so as long as ben bernanke keeps it going, i think, we have catted chatted about this before, we live in an environment, where each party is captive to the extreme elements that don't want to budge. if you try to rein in the growth of entitlement you are throwing grandma off the cliff on your side, if you try to address you know closing loopholes and credits and allowances that allow some, to not pay taxes you raise taxes so tea partiers hate you, you can't move the ball forward whether that is how we play the game. >> there needs to be honesty here, sam nun has it right, the challenge is not because of anything that republicans have done or democrats have done, but because of changing demographics am demographic trends are the most difficult to change. and they have been coming at us for years, and we have known this is coming for years, we keep putting it off, saying, well, i'll just demagogue the issue in this election, then we'll deal with it later on. well, you can't do that. the baby boomer started retiring. started swelling the ranks, demographically of the people draw
: by the way, governor, ben bernanke was talking about it yesterday. recession, whether we're in one or not. he of course said no. other people, economist david malpass and others say we may actually be in recession right now. did you ask that of your executives or do they have a consensus whether we're in one or going towards one? >> we didn't ask it that way. we ask every quarter what do they think gdp will be. this is the last time we ask for 2012. they dropped from 2.1 to 1.9 growth. you saw official revision in the last quarter all the way down to 1.3. what is bothering families, family incomes dropped four consecutive years. 8% over the last four years. home values are still suffering in so many areas around the country. i think for families they know somebody in the family. the extended family is laid off unemployed looking for work. they don't feel so good about their own circumstances. their confidence is shaken but more importantly the company that might hire them is wondering what are the rules? can i go out and hire? can i invest. we have lot of work to do. we would like to increase
of the federal reserve. ben bernanke said in a speech that the economy still isn't growingast enough to cut into unemployment. in the end, the dow jones industrial average gained 78 points to close at 13,515. the nasdaq fell more than two points to close at 3113. another major auto recall is in the works. honda announced plans to check more than 500,000 accords in the u.s. for a defective hose that can leak fluid and catch fire. the problem affects model years 2003 through 2007 of v-6 engine cars. the accord is the second best- selling car in the u.s., after the toyota camry. white house officials have acknowledged an attempt to hack the executive mansion's computer system. the associated press reported today the recent effort targeted an unclassified network, but the officials said the attack was spotted and stopped. there was no word on who was behind the attempt. a founder and leader of modern ecology, dr. barry commoner, died sunday. his work on radioactive fallout helped lead to the nuclear test ban treaty in 1963. he also was a prominent figure in the first "earth day" in 1970, and ev
of white noise, maybe people listen to ben bernanke yesterday. it just didn't add up. i can't tell you what was going on. >> what didn't add up, rick? how about the milton friedman stock? i know you've been all over that all day, so i brought a quote for you, rick. >> uh-oh. >> i brought a quote. milton friedman in his own words. now, rick, i know what you said, that anna schwartz -- >> i figured you were on for a reason today. >> what's that? >> i figured you were here for a reason. >> go ahead. >> i'm here to talk about jobs, but if we could have an aside, discussion, me and rick on the side. here's what milton friedman said in his own words in 2000. now the bank of japan's argument is, oh, well, we've got the interest rate down to zero, what more can we do? it's very simple. they can buy securities and they can keep buying them and providing high-powered money in until the high powered money gets the economy in an expansion. >> must have been a fun dinner conversation around the friedman table. >> exactly. >> i'm only talking about credit crisis issues. only give me quotes after the summ
's the one thing we need to know? >> we heard from ben bernanke yesterday. the federal reserve chief. he's a scholar of the great depression. he is pledging again, ladies, that we are going to avoid another great depression. he's promising to keep stimulus going until even after, even after the economy starts to recover to make sure we don't repeat the mistakes made into the 1930s, which is when we pulled our foot off the accelerator too soon in the economy, and just as it was starting to recover we started to tighten monetary policy and boom, threw the economy into the second great depression. the great depression scholar ben bernanke is trying everything we can to make sure we don't fall down again. >> it's comforting to hear that, isn't it? >> well, some people are concerned that it will cause inflation down the road but everyone is trying to keep the ship staling right now. >> all right. and you've got road warriors? >> that's right. another road warriors for you. if you're a business traveler, looking to meet others while you're on a trip, good news. there are now plenty of apps and
, the person who coined the term looks like it was ben bernanke, federal reserve chairman. he used the term earlier this year. so also at the same time, we've got health reform coming in with new levies on investment. >> gretchen: new taxes? that would be coming at the same time. this is up to congress or the president? who needs to do something? >> here is the issue, depends on who wins and how the lay of the land will g depending on who wins the election. if the president wins reelection, you'll possibly see gridlock. now the talk is to just let them expire temporarily and then do a quick fix for everybody but the upper bracket, so that way you could say look, we passed a tax cut and we did raise taxes on the upper bracket. if mitt romney, then he'll probably say i need time to fashion a budget. i'll have to do this in 2013. there may be delay. in that case, in either scenario, the u.s. congress would say to the irs look, adjust the tax withholding tables and so until we deal with this. so it's not an open and shut case. everybody will see their tax rates go up or tax go up january 1. the
is benefitting our economy more broadly. >> that was chairman of the federal reserve ben bernanke yesterday discussing the fed's impact on the recovery of the housing market. and joining us now, co-host of cnbc's squawk on the street david faber, and doug lebda. good to have you both onboard this morning. it seems to me housing always seems like a separate issue that maybe didn't get talked about as much. is that retrospectively incorrect? because it does seem so fundamental, david. >> it's fundamental in the economy in many ways. certainly helped us during the boom period in housing that we saw adding to gdp, construction, and so many other things. people refinancing their homes. it hasn't been discussed that much, you're right, particularly given that the president seems to have backed off a bit, perhaps, on a number of plans that would've relieved people from mortgages that they otherwise are not in a great position to pay but there was a lot of political opposition to that. but housing is starting to come back. we are starting to see real signs of not just stabilization but even perhaps
immediately we will not have an economy by monday. >> this is ben bernanke the chairman of the federal reserve. and this is a friday you were saying? >> a thursday night. >> and he's saying if you didn't take emergency action. >> we would not have an economy by monday. >> what does that mean? >> it's a horrible prospect. it means everything would disintegrate in terms of financial transactions and the rest. we went out and said time is of the essence regardless of the fact there was a presidential election seven weeks away. this happened on the president's watch. he was suggesting a solution. i said we must work together in a bipartisan way to get this done. but the fact is is that they knew, they were withholding the information from congress because they were hoping to get to the election, in my view. but the fact is four years ago the end of september if we didn't act immediately, we would not have an economy by monday. that would have been a disaster for our country. so while we want to do more to help individual families and the republicans instructed that in the last two years, the fact
Search Results 0 to 38 of about 39 (some duplicates have been removed)